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GFRD Galliford Try Holdings Plc

240.00
-4.00 (-1.64%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Galliford Try Holdings Plc LSE:GFRD London Ordinary Share GB00BKY40Q38 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.00 -1.64% 240.00 239.00 240.00 248.00 239.00 248.00 146,623 16:35:14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gen Contr-single-family Home 1.39B 9.1M 0.0886 26.98 245.37M
Galliford Try Holdings Plc is listed in the Gen Contr-single-family Home sector of the London Stock Exchange with ticker GFRD. The last closing price for Galliford Try was 244p. Over the last year, Galliford Try shares have traded in a share price range of 166.00p to 275.00p.

Galliford Try currently has 102,665,051 shares in issue. The market capitalisation of Galliford Try is £245.37 million. Galliford Try has a price to earnings ratio (PE ratio) of 26.98.

Galliford Try Share Discussion Threads

Showing 4826 to 4849 of 7425 messages
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DateSubjectAuthorDiscuss
15/1/2018
16:16
Time to buy
anthonyspencer1
15/1/2018
16:13
Still don't understand why it should cost the two remaining contractors anything for this contract now that clln are out.

£60-80m of cash required between them to complete should not necessarily result of a loss.
They must be paid on completion.

careful
15/1/2018
16:05
"The company couldn't possibly make a further provision for the risk of Carillion defaulting until such time as that actually happened."

I don't think that is right. provisions can be taken if there is a reasonable expectation. I have personal experience of provisions being taken in terms of what the recovery plan would be if a JV collapsed

marksp2011
15/1/2018
15:14
marksp2011

Without double checking, believe GFRD did make a provision in their last results of some £100m on ALL their underperforming legacy projects including their joint ventures. How much of that related to their original share on the Aberdeen road project, I cannot recall.

The company couldn't possibly make a further provision for the risk of Carillion defaulting until such time as that actually happened.

It has done just that today, at least in global terms.

grahamburn
15/1/2018
15:12
Downyr.
I used to read/amend/approve contracts and performance bonds when working for a Bank 30 years ago, where Bank was acting as guarantor.
Clarity and scope of liability is a key part of any contract.
This is standard stuff, along with making sure wording holds up when sh*t hits fan.
That's why legal docs are so long - to ensure roles and responsibilities are clear, more so under bad times.
I am sure you would agree with that - just begs question as to why the foreseeable was unforeseen, not included in wording and why no reward for risk taken in JV, when rewards are tight and for the gov't.
Why go into a long term high risk contract with low margins and whilst sharing risk with third parties?
There may well be recourse to CRLN, but a long way down list of creditors.

I agree with your expectation that earlier anouncement may have hampered and even triggered an earlier downfall.

Just a thought....
If receiver/administrator for CRLN needs someone to pick up and run with other contracts, then GFRD could be viewed favourably to offset the debt CRLN have to GFRD for failure to perform their role.

dr_smith
15/1/2018
15:07
Mark, unfortunately CLLN has followed a well worn sector path.

The professional shorts do not always get it right, Ocado as an example,
however have hit the bullseye on multiple companies recently.
They have the added advantage of forensic accountants who can crawl through every
line of the accounts, added probably to wider sector insight.

essentialinvestor
15/1/2018
15:03
CLLN farce gives indication of the post Brexit world.
Corbyn waiting in the wings to nationalise everything.
not allowed in the eu.

careful
15/1/2018
14:37
I think CLLN was well known as a forthcoming train wreck. Even I sold my shares having looked at the accounts.
GFRD should have made a provision even if they released it later.

RNS isn't particularly clear - not exactly transparent is it? Is that more cash required to complete that will be recovered at exit or......just cash in to a black hole?

marksp2011
15/1/2018
14:05
Dr Smith, that how construction JVs are normally set up, but you are right they could have seen it but I think they would not have been able to make any announcement before now
downyr
15/1/2018
12:43
Presumably, the increased contribution to make up Carillion's share - also means a corresponding increase in the share of the net contribution from the project - unless it is being run at a loss?
boystown
15/1/2018
12:30
I hold decent amount of shares GFRD.
just ranting against the audit system in general.

careful
15/1/2018
12:20
@ EssentialInvestor - No, I've no personal experience in this industry. Have a few friends who work, and have worked in it, but otherwise nothing.

You say no one is accusing GFRD of anything untoward, but that is precisely why I asked careful to clarify his statement. As it does seem to somewhat read (at least to me) as if it's casting suspicions regarding "honesty and transparency" in associating with someone or something related to Galliford Try. Otherwise why mention stuff about honesty and transparency in this GFRD thread and not the CLLN.

Maybe it's just a general comment about the construction industry in general, but the target of that comment is unclear without clarification. (Edit - Which he has done while I was typing).

calahan
15/1/2018
12:08
BBC Business live


"Galliford Try, the construction and housing group, estimates that Carillion's collapse will cost the business between £30m and £40m.

Galliford Try is involved in just one contract with Carillion - the £550m Aberdeen Western Peripheral Route contract to build a new road measuring 58km.

Balfour Beatty is also a partner in the project.

Galliford said: "The companies will discuss the position urgently with the Official Receiver of Carillion and Transport Scotland, to minimise any impact on the project."

eeza
15/1/2018
12:04
Calahan, do you have much experience of the industry?.

The first company I worked for back in the 1980's was Higgs & Hill in New Malden.

Exactly the same sh1t way back then, wafer thin margins, cost overruns etc.

No one is accusing GFRD of anything untoward, however the sector currently faces
a huge issue with an undersupply of skilled labour, staff retention and recruitment.

essentialinvestor
15/1/2018
11:57
careful - "maybe the clln collapse will result in greater transparency and honesty in future."

What do you mean? Just because one badly run company was lying to everyone for years and doing all it could to hide their lies (via creative accounting) doesn't mean all construction companies are doing the same. Please don't throw the tar brush around just because the day came when a failing company finally failed.

So who are you expecting "greater transparency and honesty" from exactly? GFRD? The construction industry in general? HMG? Someone else?

calahan
15/1/2018
11:48
Think Galliford have said all they can in this connection as of today. The joint venture project referred to in the RNS is an ongoing difficulty for all members of the consortium. Until it is completed (whenever that is) and the client is happy, the total losses are not definitive.

Having said that, this road project was clearly mishandled by the consortium from bidding through implementation. The reasons for this are not clear yet, but most certainly need to be avoided in future.

grahamburn
15/1/2018
11:38
Todays statement on joint venture suggests CLLN collapse will cost GFRD £30-40m.
We need detailed information at the time of the upcoming results.

maybe the clln collapse will result in greater transparency and honesty in future.

careful
15/1/2018
10:37
I don't know why GFRD do not wind down their construction arm.

That industry looks an absolute minefield imv.

essentialinvestor
15/1/2018
10:36
Seems to be working OK now. (ii that is)
eeza
15/1/2018
10:28
Would like to top up but Interactive Investor appears to be down..
joshgroeny
15/1/2018
07:57
Looking at it purely from a GFRD standpoint, one less competitor writing business at stupid prices to worry about.
cwa1
15/1/2018
07:52
Only if GFRD can reprice them
samdb
15/1/2018
07:32
Wonder if any of the defunct Carillion's contracts will be offered to GFRD?
Would they be worth having?

randomwalker
12/1/2018
18:54
H1 results 14 Feb including interim divi announcement.
Ex div date 15 March payable 6 April.

fizzypop
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